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The Reserve Bank of India opened the way for local banks to trade non-deliverable forwards, giving it a new tool to manage rupee volatility onshore and offshore. The move came alongside an emergency rate cut and a $50 billion liquidity pledge, with reserves of about $475 billion.
Greater central bank control over rupee volatility reduces the chance of sharp currency swings that would change Indian import costs for dollar-priced feed. It is a policy signal rather than a direct change in supply or demand.
gulfnews.comBloombergApr 13, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
